Taxation Ruling

TR 2014/4A1 - Addendum

TR 2014/4 - Income tax: effective life of depreciating assets (applicable from 1 July 2014)

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Addendum

This Addendum is a public ruling for the purposes of the Taxation Administration Act 1953. It amends Taxation Ruling TR 2014/4 to insert missing entries and words, correct a heading description and remove the incorrect use of an asterisk.

TR 2014/4 is amended as follows:

1. Table A as at 1 July 2014 Effective Lives (Industry Categories)

Under the heading 'Vegetable growing (under cover) (01220)'; Omit:

Hydroponics growers may use the effective life for relevant assets shown in Nursery and Floriculture Production (01110 to 01150)

Substitute:

Hydroponics growers may also use the effective life for relevant assets shown in Nursery and Floriculture Production (01110 to 01150)

2. Table A as at 1 July 2014 Effective Lives (Industry Categories)

Omit the heading 'Steel coil roll forming, slitting, blanking and sheet metal forming (22210 to 22290)'; substitute 'Steel coil roll forming, slitting and blanking and sheet metal forming (22210 to 22290)'.

3. Table B as at 1 July 2014 Effective Lives (Asset Categories)

Under the heading P, after 'Platform scales'; Insert:

Plumbing fixtures and fittings (including wall and floor tiles) provided mainly for employees and/or children of employees of an entity carrying on a business for the purpose of producing assessable income

20

1 Jan 2001

4. Table B as at 1 July 2014 Effective Lives (Asset Categories)

Under the heading T; Omit:

Complete telephone system (comprising switchboards, instruments, cables etc)

20

*

1 Jan 2001

Substitute:

Complete telephone system (comprising switchboards, instruments, cables etc)

20

1 Jan 2001

This Addendum applies on and from 1 July 2014.

Commissioner of Taxation
6 August 2014

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References

ATO references:
NO 1-5EJ20VG